The 1981 World Series matched the New York Yankees against the Los Angeles Dodgers, marking their third meeting in the Series in five years. The Dodgers won the Series in six games for their first title since 1965, and their first victory over the Yankees since 1963.

Baseball was marred this summer by a two-month player's strike starting at 12:30am on June 12th finally resuming play on August 10th. In total 706 games were scrapped - over a third of the schedule. A make-shift playoff system was agreed upon by the owners, pitting the first and second half winners, leaving the team with the best overall record in the National League, the Cincinnati Reds (66-42), out of the postseason. The Los Angeles Dodgers were in first place in the National League West division when the strike began, earning a spot in the postseason. They defeated the Houston Astros, three games to two, in the NLDS then defeated the Montreal Expos, also three games to two, in the NLCS.

Bob Lemon's Yankees had a losing second half (25-26) but managed to win the first half (34-22) to qualify for the playoffs. Gene Michael had ben the manager at the start of the season, but after securing a playoff spot was fired during the second half when the team was not playing to mercurial owner George Steinbrenner's liking. Dependable Ron Guidry won 11 games (against 5 losses) with Dave Righetti coming into his own as a starter winning 8 games with a 2.05 ERA. Righetti would later move to the bullpen saving over 400 games between 1984 and 1990. At this point, however, in the bullpen was Goose Gossage, who was nearly unhittable, saving 20 games with an incredible 0.77 ERA and striking out 48 in 47 innings.

Dave Winfield was signed as a free agent in the off-season joining superstar Reggie Jackson in the outfield. He led the club with 25 doubles and 68 RBIs. Winfield's huge contract, $21 million over 10 years, along with a strong lineup and terrific left-handed starting pitching, was not enough to deny the Dodgers their first World Series Championship since 1965, however, as the rest of the line-up was not as strong.

October 23, 1981 at Dodger Stadium in Los Angeles, CaliforniaRon Cey jump-started the Dodgers with a 1st-inning three-run homer, but rookie phenom Fernando Valenzuela was not sharp and the Yankees battled back to take a 4-3 lead after three innings. The Dodgers pushed across two runs in the 5th, the go-ahead run scoring on a double play. The Yankees threatened but Valenzuela constantly pitched out of trouble in his complete game victory. A key play came in the 7th when the Yankees had men on first and second with nobody out. But a sacrifice bunt was popped up, and Ron Cey made a diving catch and doubled the runner off first base to quell the rally.

October 24, 1981 at Dodger Stadium in Los Angeles, California
The Yankees jumped out to a 4-0 lead, chasing starter Bob Welch in the 1st inning, but the Dodgers cut it to 4-3; the Yankees then stretched out their lead to 6-3 and turned the game over to their normally reliable bullpen. But Jay Johnstone's pinch-hit two-run homer off Ron Davis got the Dodgers back in the game. Davey Lopes then lofted a ball into right field that Reggie Jackson bumbled into a double. The flustered Davis forgot all about Lopes and went into a wind-up, enabling Lopes to easily steal third base. Lopes then tied the score when he came home on Bill Russell's single. The Dodgers got two more in the 7th off George Frazier, and held on despite Jackson's solo blast in the 8th.

The series is sometimes called "The World Series that Never Was." This refers to the fact that the team with the best overall record, the Cincinnati Reds did not make the playoffs due to a modified playoff schedule established by CommissionerBowie Kuhn due to a midseason strike. In the NL East, the St. Louis Cardinals had the best overall record, but failed to make the playoffs after finishing second in both halfs. However, it should be noted that the teams that won the first half and already were assured of a playoff spot often rested players and played a number of prospects in the 2nd half.

The Los Angeles Dodgers were the first National League team in World Series history to lose the first two games, then sweep their opponent during the next four contests. Ironically, the New York Yankees were the first to accomplish the feat against the Dodgers in 1978, and would do so again in their next World Series appearance, 15 years later, in 1996. Also, the 1955 Dodgers were the first to win a World Series after losing the first two games (although it took them seven games) - naturally against the Yankees. In 1956, the Yankees did the same thing to the Dodgers.

Yankees owner George Steinbrenner, who allegedly got into a fistfight with unknown assailants in a Los Angeles elevator during the Series, was so frustrated with star outfielder Dave Winfield's performance (having just one hit in 22 at-bats during the entire World Series), that he went on to dub Winfeld the dubious title of Mr. May. Winfield would ultimately redeem himself as a member of the Toronto Blue Jays, when he knocked in the World Series clinching run in Game 6 of the 1992 World Series against the Atlanta Braves.

As one of the television commentators during a game played in Yankee Stadium, Howard Cosell, in a context clearly referring to the Yankees, used the term "our pitchers." He was later criticized for such a partisan statement and denied having made it. Cosell, by the way, grew up in Brooklyn, New York.